Commodity Online
NEW YORK: Even as the Wall Street soared on Thursday and almost gained some points on Friday, gold mining sector’s stocks witnessed a downfall, which showed that gold losing out to the strengthening of the stock markets.

Most of the gold mining companies found their stocks tumbling on Friday with AngloGold Ashanti Limited on NYSE crashing by -9.46 per cent on expected fall in gold prices.

AngloGold Ashanti has 21 operations and a number of exploration programs in gold-producing regions of the world.

Then Newmont Mining Corporation’s fall was also significant on NYSE. Newmont which as planning to acquire an Australian mining company climbed down by -5.08 per cent in the late afternoon trade.

Harmony Gold Mining Co also slipped by 10.69 per cent on Friday. Harmony’s operations are located primarily on the Witwatersrand Basin in South Africa, including 10 underground operations, an open-pit mine and surface operations that includes four provinces, Gauteng, North West Province, Mpumalanga and the Free State.

Golden Star Resources Ltd. Also felt the pinch on Friday with its stocks tumbling by 11.32 per cent.


Golden Star is an international gold mining and exploration company that produces gold in Ghana, West Africa. Through its subsidiaries, it owns a controlling interest in four significant gold properties in southern Ghana: The Bogoso/Prestea property, Wassa property, Prestea Underground property and Hwini-Butre and Benso concessions (HBB Properties).

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